Sun Hydraulics Corp. - Conference Presentation Calls

Sun Hydraulics Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 26, 2009. For the quarter, the company reported net income of $554,000 or $0.03 per basic and diluted share on net sales of $23.316 million compared to net income of $6.657 million or $0.40 per basic and diluted share on net sales of $44.771 million for the same period of last year. The company reported income before income tax of $570,000 and income from operations of $423,000 compared to income before income tax of $9.768 million and income from operations of $9.281 million for the same period of last year. The company reported CapEx of $1.043 million compared to CapEx of $2.368 million for the same period of last year. For the nine months, the company reported net income of $559,000 or $0.03 per basic and diluted share on net sales of $70.131 million compared to net income of $23.255 million or $1.40 per basic and diluted share on net sales of $145.342 million for the same period of last year. The company reported income before income tax of $390,000 and income from operations of $593,000 compared to income before income tax of $34.574 million and income from operations of $33.703 million for the same period of last year. The company reported net cash provided by operating activities of $11.300 million and CapEx of $4.549 million compared to net cash provided by operating activities of $30.846 million and CapEx of $9.229 million for the same period of last year. Fourth quarter 2009 revenues are expected to be approximately $26 million, down 21% from the fourth quarter of 2008. Earnings per share are estimated to be $0.05 to 0.07 compared to $0.15 in the same period a year ago. 2009 year-end sales are estimated to be approximately $96 million, a 46% decrease compared to 2008. Earnings per share for 2009 are estimated to be $0.08 to $0.10, compared to $1.55 in 2008.

Sun Hydraulics Corp., Q3 2009 Earnings Call, Nov-03 2009